(5 credits)
Lease accounting from the perspective of the lessor and lessee is an important consideration for business as an alternative to financing. But what options are available for lessors and lessees in accounting for lease transactions? In this course, students have the opportunity to investigate and respond to prevailing accounting issues in this area. This course continues the three-course sequence of Intermediate Accounting. Students assess and explain the measurement and reporting disclosures for leases, pensions, equity compensation, derivatives, and earnings per share. They apply best practices in the presentation of financial statements and analyze how these relate to the auditing function. Students also gain hands-on practice in determining pension obligations and expenses. As a basis for their coursework, students apply the Financial Accounting Standards Board's Accounting Standards Codification and international financial reporting standards.